VMware early-on had licensing code that disabled a customer's app and cost them a lot of money. Licensing of enterprise features is best to have a nag screen and disable some future actions rather than drop a ban-hammer. They were forced to strip out that code and ended up with weak enforcement of licensing.
Telemetry and online verification are unacceptable to some customers of on-prem software. To them, it should work even if the vendor goes out of business.
Volume license keys should exist for large-scale deployment of on-prem software in concert with open sources surveillance (search engines and warez sites) of license keys and software to prevent abuse. Even then, it's better to reissue volume license keys to customers because DLP of an external entity is an essentially impossible task.. at least they will know there's a problem and may work to police themselves.
Stopping all piracy is undesirable because persons who cannot afford it but are in/direct decision-makers have the ability to sabotage sales and/or acquire an unfavorable impression of the brand. Piracy and leaks are indirectly helpful to overall sales and marketing. Keep it down to a dull roar, because some people and some factions of industries are more-or-less like Fight Club. If something is used commercially at-scale from a small vendor, support their survival with licensing fees... don't be Best Buy.